【BTCJPY】20180828 Daily Pivot

As a guide for day trading BTCJPY, we check the pivot. Yesterday (August 27) the upward momentum strengthened and broke through the 760,000-yen level. The price closed above the 75MA, forming a solid bullish candlestick in the market environment.

R2=784,426

R1=774,953

S1=747,503

S2=729,526

* Pivot is a technical indicator that estimates the potential price movement for the day based on the previous day's price action. Centered on the Pivot Point (PP), resistance lines (R1, R2) and support lines (S1, S2) are drawn above and below, and they are used as trading reference points.

【Calculation Formulas】

Pivot Point (PP) = (Previous day close + previous day high + previous day low) / 3

Resistance Line 1 (R1) = PP + (PP - previous day low)

Support Line 1 (S1) = PP - (previous day high - PP)

Resistance Line 2 (R2) = PP + (previous day high - previous day low)

Support Line 2 (S2) = PP - (previous day high - previous day low)